Public Employees Retirement System of Ohio Purchases 8,567 Shares of Independence Realty Trust, Inc. $IRT

Public Employees Retirement System of Ohio lifted its position in Independence Realty Trust, Inc. (NYSE:IRT) by 2.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 334,054 shares of the real estate investment trust’s stock after buying an additional 8,567 shares during the period. Public Employees Retirement System of Ohio owned about 0.14% of Independence Realty Trust worth $5,909,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC grew its stake in Independence Realty Trust by 2.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,292 shares of the real estate investment trust’s stock valued at $442,000 after acquiring an additional 488 shares during the period. Xponance Inc. lifted its holdings in shares of Independence Realty Trust by 2.1% during the 1st quarter. Xponance Inc. now owns 32,632 shares of the real estate investment trust’s stock valued at $693,000 after purchasing an additional 678 shares in the last quarter. Brooklyn Investment Group lifted its holdings in shares of Independence Realty Trust by 131.4% during the 1st quarter. Brooklyn Investment Group now owns 1,254 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 712 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Independence Realty Trust by 0.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 252,949 shares of the real estate investment trust’s stock valued at $5,370,000 after purchasing an additional 731 shares during the period. Finally, Nissay Asset Management Corp Japan ADV increased its stake in Independence Realty Trust by 2.6% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 32,978 shares of the real estate investment trust’s stock worth $700,000 after purchasing an additional 829 shares in the last quarter. Institutional investors and hedge funds own 88.25% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Compass Point upgraded shares of Independence Realty Trust from a “neutral” rating to a “buy” rating and raised their target price for the stock from $22.00 to $24.00 in a report on Thursday, July 31st. Barclays dropped their price objective on shares of Independence Realty Trust from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 12th. UBS Group reduced their target price on shares of Independence Realty Trust from $24.00 to $21.00 and set a “buy” rating for the company in a research note on Tuesday, July 15th. Wells Fargo & Company lowered their target price on Independence Realty Trust from $24.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, August 27th. Finally, Wall Street Zen lowered Independence Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, August 30th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.14.

Independence Realty Trust Trading Up 0.5%

Shares of IRT stock opened at $16.53 on Monday. Independence Realty Trust, Inc. has a 1 year low of $16.43 and a 1 year high of $22.26. The firm’s fifty day moving average price is $17.34 and its two-hundred day moving average price is $18.31. The firm has a market capitalization of $3.86 billion, a P/E ratio of 137.71, a PEG ratio of 2.28 and a beta of 0.96.

Independence Realty Trust (NYSE:IRT) last posted its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.28 EPS for the quarter, hitting analysts’ consensus estimates of $0.28. The company had revenue of $161.89 million during the quarter, compared to the consensus estimate of $164.78 million. Independence Realty Trust had a net margin of 4.31% and a return on equity of 0.78%. During the same period in the prior year, the business posted $0.28 EPS. Independence Realty Trust has set its FY 2025 guidance at 1.195-1.215 EPS. As a group, equities research analysts forecast that Independence Realty Trust, Inc. will post 1.19 EPS for the current fiscal year.

Independence Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Tuesday, September 30th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Tuesday, September 30th. Independence Realty Trust’s dividend payout ratio (DPR) is currently 566.67%.

Independence Realty Trust Company Profile

Independence Realty Trust, Inc (NYSE: IRT) is a real estate investment trust that owns and operates multifamily communities, across non-gateway U.S. markets including Atlanta, GA, Dallas, TX, Denver, CO, Columbus, OH, Indianapolis, IN, Raleigh-Durham, NC, Oklahoma City, OK, Nashville, TN, Houston, TX, and Tampa, FL.